Watervliet, MI Estate Planning Law Firms & Lawyers

If you have not made taxable gifts previously, and you are a US citizen then you should have your entire $5.12 million dollar gift tax exemption available in 2012. That amount is probably going down to $1,000,000 in 2013. You should speak with an attorney or tax advisor to address the specifics. It would probably be much more advantageous to give the money this year instead of next. If you earned this money in 2012, you will still need to pay income taxes on the monies.

There is no statute of limitations; the will doesn't do anything until it is submitted to a probate court, and administration of her estate is begun. At that point, the will is public record and anybody can see it. Brother's power of attorney died when your mother died. If he is stealing, he will have stolen everything prior to her death, so that he will have no need to submit the will for probate. If you know there is property still in your mother's name, you may need to begin probate yourself and request that the court obtain the will from brother.

All POAs end at death. You will need permission from a probate court to settle your mother's estate. If the estate is small, you may be able to be named a special administrator which would allow you to do certain things like close bank accounts. However, if your mother's estate is larger, you may need to be named executor by the court.